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JM Bullion is a top precious metals dealer that enables you to purchase bullion to physically own instead of owning it as a paper investment.
According to its website, JM Bullion has been a precious metals leader since they were founded in 2011 and continues to exceed expectations by proving a great customer service experience and delivering fast shipping to its clients.
Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
Read the list to see if JM Bullion passed our strict customer service standards to become one of our top recommendations.
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In 2019, JM Bullion received the Entrepreneur of the Year award from EY. This award recognized the CEO and founder, Michael Wittmeyer, for his drive and determination that helped take the company to new heights.
JM Bullion also ranked #40 in Inc magazine's 2016 rankings of the fastest-growing privately held companies in the United States. During this time, the company received a 3-year revenue growth of nearly 6.000%.
These achievements are certainly impressive, especially considering the fact that the company was founded in just 2011. While JM Bullion doesn't have as many years of experience compared to some competitors, the rapid growth of this company shows just why it is worth the watch for investors.
If you're interested in visiting their location, JM Bullion's corporate headquarters and contact center is located in Dallas, Texas.
JM Bullion offers several services to its clients, including the option to buy and sell precious metals, open IRAs, and obtain loans through precious metals. Here is a look at the details of each.
Buying Precious Metals
If you're interested in buying precious metals from JM Bullion, you'll be glad to know that the company has a large selection of products to choose from. JM Bullion offers a variety of precious metals. Their inventory includes gold, silver, platinum, palladium, and copper.
With this list of precious metals, JM Bullion is easily one of the most diverse companies that offer precious metals. Some common metals you'll find are:
For a full list of precious metals offered in each category, be sure to visit JM Bullion's website.
Selling Precious Metals
Do you have gold and silver you're ready to sell?
JM Bullion offers a do-it-yourself buyback tool. In fact, this self-serve tool is the only one in the industry. Investors will be able to lock in their prices online on any day at any time without a representative's assistance. Here's how to start the selling process:
If you're not comfortable with the self-serve tool, you can also sell to them by phone. The number to call is 844-258-2538. If you prefer to email someone, you can ask JM Bullion about buybacks using this email: firstname.lastname@example.org.
How does the selling process work?
JM Bullion has a simple enough selling process that will help investors get the most out of their precious metals and get paid as quickly as possible. Here is what the process entails:
1. Get a Quote and Lock in Your Price
The "Sell to Us" feature will enable you to choose the precious metals you would like to sell. If you don't see the products you're interested in, JM Bullion says you can call or email them for more information. Once you're ready, checkout to lock in your price.
2. Ship Your Products
Next, you'll ship your products to JM Bullion. You will receive an email with instructions on how to mail your items once you've checked out. JM Bullion states that you need to follow the instructions precisely to ensure your metals arrive at their location safely.
3. Receive Payment
Once your package is received, JM Bullion's inventory team will inspect each item and approve it for sale. After approval, your payment will be sent to you.
A Few Advantages of Selling to JM Bullion
There are several reasons why someone may want to sell with JM Bullion. For instance, the company offers transparent pricing. You won't have a hard time finding out their buyback prices since they are visible on the website for most products.
JM Bullion also offers industry-leading rates and ensures that they keep their prices updated. Selling to JM Bullion is also beneficial due to its innovative do-it-yourself selling tool. Investors can take control by selling instantly online, 24/7 without a representative.
Lastly, investors can expect to receive quick payments. According to its website, those who sell with JM Bullion should expect payments anywhere from 1-3 business days after the product has been authenticated.
JM Bullion offers clients precious metal IRAs. They have partnered with New Direction IRA, enabling them to offer the lowest cost and fasted IRA setup/maintenance.
Just as with other precious metal IRAs, the process consists of three steps to get started.
Step 1: Open Your New Self-Directed IRA
A self-directed IRA enables you to hold physical precious metals in precious metals IRA. For a faster process, consider working with JM Bullion's preferred IRA custodian (New Direction IRA).
Step 2: Add Funds to Your Account
Once your account is open, you're ready to add funds. If it is a new account, you will wire or transfer money to your IRA custodian. If you are transferring/rolling over an IRA, you must speak with your custodian to initiate the transfer/rollover of funds.
Step 3: Purchase Precious Metals from JM Bullion
Finally, your custodian will notify JM Bullion that you have funds available and intend to use them to purchase precious metals. At this point, you can call JM Bullion at 800-276-6508 to select your IRA-eligible products and lock in your price.
JM Bullion's Preferred Self-Directed IRA Custodians
New Direction Trust Company: New Direction has over $10,000 unique assets, 51,000 accounts, and $3B in cash and assets.
Equity Trust: Equity Trust has clients from all 50 states who have entrusted them with service. They have more than 237,000 accounts and hold over $39 billion in retirement assets.
GoldStar Trust: GoldStar has empowered over 60,000 investors with more than $3.0B in assets under custody and over 30 years of experience.
STRATA Trust: STATA is helping over 40,000 investors and has over 350 years of collective experience. Additionally, the company has more than $4.0B in assets under custody.
JM Bullion's Preferred Depository
Owning physical precious metals means they'll also need to be stored. JM Bullion works with A-M Logisitcs for storage services.
A-M Global Logistics is a full-service depository located in Las Vegas, Nevada. This company offers first-rate depository storage services and several other services like evaluation, fulfillment, shipping, and allocated/unallocated inventory. You can talk with a representative at 888-964-7671 or email them at email@example.com
JM Bullion gives customers the opportunity to borrow against their gold and silver using their bullion as collateral through its partnership with Collateral Finance Corporation. Most investors like the idea of gold and silver-backed loans because it offers easy cash without needing to sell your assets.
Collateral Finance Corporation offers several benefits. For starters, the company is a leader in gold and silver loans. In fact, Collateral Finance states that they have had over $300 million in loans to date. If you're interested in obtaining a loan, the company finances loans of $25,000 all the way up to $5+ million.
You'll also find that Collateral Finance Corporation has compelling terms, including:
How to Apply
According to JM Bullion, applying will typically take 15 minutes. There is no credit check and individuals will receive a response within one business day with information regarding what interest rate they will receive and what their loan amount will be.
If you don't want to apply directly online, you can also fill out the form and leave your name, email, and phone number. A CFC representative will contact you.
If you get approved for funding, JM Bullion says you can expect to receive your funds within 10 days. You can also finance up to 75% of the bullion value.
JM Bullion has many reviews online. On Consumer Affairs, the company received an average rating of 3.6/5.
Overall, the company has had a mix of positive and negative reviews. Let's look at some of what was said about the company.
One reviewer said they purchased precious metals with JM Bullion several times through their mobile phone app. Fortunately for the customer, they have had nothing but a good experience with the company.
Another customer said that they usually buy gold, silver, and copper from a few different sites. However, they still prefer doing their research and 80% of their purchases are through JM Bullion. The customer specifically stated that they liked their silver and gold from JM Bullion. The ordering process is a quick and painless process and is usually shipped the next day and arrives within three days.
The customer also noted that their package was discreet and included all necessary tracking information.
Another customer said that JM Bullion eased their stress related to purchasing precious metals and receiving them via postal service. According to the customer, JM Bullion does not leave much room in the process to worry or be concerned.
JM Bullion has received some negative complaints about the company as well. One customer who had a complaint said that it had been a while since they used JM Bullion. but decided to place a small order. The order included sealed Silver Eagles and other minor silver rounds and eagles. According to the customer, both sealed coins had defects that were easily noticeable.
The customer said that they sent a notification to their contact site. Unfortunately, JM Bullion did not call or email with a follow-up, according to the customer. The customer felt that JM Bullion lacked communication when there is a problem and would not want to use them again.
Another customer complained stating that they felt JM Bullion had fraudulent practices. They placed an order for (3) 10z Valcambi Gold Bars using JM's ACH payment system. The next day, the funds cleared and the money was removed from the customer's account and into JM Bullion's account.
Unfortunately, the customer received an email stating that the order was canceled due to an Internal Review System. The customer called and verified their information, which still wasn't satisfactory. As a result of this, the customer's funds wouldn't be refunded unless a legal contract was signed.
JM Bullion: Advantages & Disadvantages for Investors
Here are some things to consider before you decide to work with JM Bullion:
If you are a bargain investor, you'll enjoy the fact that JM Bullion always seems to have a few precious metals on sale. If you're unsure about JM Bullion and want to give the company a try, buying from their sales page is a great place to start.
JM Bullion has partnered with Collateral Finance Corporation to deliver investors an innovative loan program. With this program, investors can borrow money with up to 75% of the bullion value.
If you need money in a pinch, it's great to know that you can borrow money with the value of your precious metals when you partner with JM Bullion.
One of the most beneficial features that JM Bullion offer is its buyback program. The Do-it-Yourself program enables investors to sell precious metals 24/7 without a representative. If you're looking for a quick opportunity to sell and don't need the assistance of a team member, JM Bullion's buyback program is worth paying attention to.
While many customers have enjoyed the services offered by JM Bullion, some people have complained about the company. Many of the complaints have been surrounding shipment and damaged products. Just be sure to keep this in mind if you decide to move forward.
Is JM Bullion Worth It?
JM Bullion is a legit precious metals company. The company offers a diverse selection of precious metals, a do-it-yourself buyback program, gold IRAs, and more.
If you're interested in a precious metals company with a solid reputation, JM Bullion could be a company to consider, although we think there are much better companies for precious metals and your gold IRA needs.
Remember to read out list of the Top Gold Companies to see if JM Bullion made the cut.
Or, if you like what you read about JM Bullion, you can visit their website below.